LPL Financial (NASDAQ:LPLA) Rating Lowered to Neutral at Citigroup

LPL Financial (NASDAQ:LPLA) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, Marketbeat reports. They presently have a $400.00 price target on the financial services provider’s stock. Citigroup’s price target suggests a potential upside of 5.48% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company cut their price target on LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Barclays raised their price objective on shares of LPL Financial from $365.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. Morgan Stanley raised their price objective on shares of LPL Financial from $330.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Redburn Atlantic upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $420.00 to $460.00 in a report on Monday. Finally, Wall Street Zen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $387.69.

LPL Financial Stock Down 0.3%

LPLA stock opened at $379.22 on Monday. LPL Financial has a 12-month low of $187.19 and a 12-month high of $390.23. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market cap of $30.33 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 0.94 and a beta of 0.67. The company has a 50 day moving average of $343.53 and a two-hundred day moving average of $342.30.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period last year, the company earned $3.83 earnings per share. LPL Financial’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts anticipate that LPL Financial will post 19.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LPLA. Summit Securities Group LLC bought a new position in LPL Financial during the first quarter worth $26,000. Millstone Evans Group LLC increased its position in LPL Financial by 123.1% during the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 48 shares during the period. Graney & King LLC bought a new position in LPL Financial during the fourth quarter worth $30,000. Private Trust Co. NA increased its holdings in shares of LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 68 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 39 shares during the period. 95.66% of the stock is owned by institutional investors.

About LPL Financial

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.